Financial Astrology of Transocean Inc.

FINANCIAL ASTROLOGY

First Trade Date for Transocean Inc.

Company Name	First Trade Date (yyyy-mm-dd)
Transocean Inc.	1993-05-28

Company Name	Symbol
Transocean Inc.	RIG
History and Business of Company (this information may include date of incorporation)
Transocean Inc. (together with its subsidiaries and predecessors, unless the context requires otherwise, the "Company," "Transocean," "we," "us" or "our") is a leading international provider of offshore contract drilling services for oil and gas wells. As of March 1, 2004, we owned, had partial ownership interests in or operated 96 mobile offshore drilling units, excluding the fleet of TODCO (together with its subsidiaries and predecessors, unless the context requires otherwise, "TODCO"), a publicly traded drilling company in which we own a majority interest. As of this date, our fleet consisted of 32 High-Specification semisubmersibles and drillships ("floaters"), 26 Other Floaters, 26 Jackup Rigs and 12 Other Rigs. As of March 1, 2004, TODCO's fleet consisted of 24 jackup rigs, 30 drilling barges, nine land rigs, three submersible drilling rigs and four other drilling rigs. Our mobile offshore drilling fleet is considered one of the most modern and versatile fleets in the world. Our primary business is to contract these drilling rigs, related equipment and work crews primarily on a dayrate basis to drill oil and gas wells. We specialize in technically demanding segments of the offshore drilling business with a particular focus on deepwater and harsh environment drilling services. We also provide additional services, including management of third party well service activities. Our ordinary shares are listed on the New York Stock Exchange under the symbol "RIG." Transocean Inc. is a Cayman Islands exempted company with principal executive offices in the U.S. located at 4 Greenway Plaza, Houston, Texas 77046. Our telephone number at that address is (713) 232-7500. In June 1993, the Company, then known as "Sonat Offshore Drilling Inc.," completed an initial public offering of approximately 60 percent of the outstanding shares of its common stock as part of its separation from Sonat Inc., and in July 1995 Sonat Inc. sold its remaining 40 percent interest in the Company through a secondary public offering. In September 1996, the Company acquired Transocean ASA, a Norwegian offshore drilling company, and changed its name to "Transocean Offshore Inc." On May 14, 1999, the Company completed a corporate reorganization by which it changed its place of incorporation from Delaware to the Cayman Islands. In December 1999, we completed our merger with Sedco Forex Holdings Limited ("Sedco Forex"), the former offshore contract drilling business of Schlumberger Limited ("Schlumberger"). Effective upon the merger, we changed our name to "Transocean Sedco Forex Inc." On January 31, 2001, we completed our merger transaction (the "R&B Falcon merger") with R&B Falcon Corporation ("R&B Falcon"). We accounted for the R&B Falcon merger using the purchase method of accounting with the Company treated as the accounting acquiror. At the time of the merger, R&B Falcon operated a diverse global drilling rig fleet, consisting of drillships, semisubmersibles, jackup rigs and other units in addition to the Gulf of Mexico Shallow and Inland Water segment fleet. In May 2002, we changed our name to "Transocean Inc." In July 2002, we announced plans to pursue a divestiture of our Gulf of Mexico Shallow and Inland Water business, which was a part of R&B Falcon. R&B Falcon's overall business was considerably broader than the Gulf of Mexico Shallow and Inland Water business. In preparation for this divestiture, we began the transfer of all assets and businesses out of R&B Falcon that were unrelated to the Gulf of Mexico Shallow and Inland Water business. In December 2002, R&B Falcon changed its name to TODCO and, in January 2004, the Gulf of Mexico Shallow and Inland Water business segment became known as the TODCO segment. In February 2004, we completed an initial public offering of TODCO, in which we sold 13.8 million shares of TODCO's class A common stock representing 23 percent of TODCO's outstanding common stock. Before the closing of the offering, TODCO completed the transfer to us of all unrelated assets and businesses. At March 1, 2004, we held approximately 77 percent of the outstanding common stock of TODCO, represented by 46.2 million shares of class B common stock, and consolidate TODCO in our financial statements. TODCO's class A common stock has one vote per share, and its class B common stock has five votes per share. Our current long-term intent is to dispose of our remaining interest in TODCO, which could be achieved through a number of possible transactions including additional public offerings, open market sales, sales to one or more third parties, a spin-off to our shareholders, split-off offerings to our shareholders that would allow for the opportunity to exchange our shares for shares of TODCO class A common stock or a combination of these transactions. We provide contract drilling services in several market sectors and aggregate these operations into two business segments. Our Transocean Drilling segment (formerly called the "International and U.S. Floater Contract Drilling Services" business segment) is comprised of drillships, semisubmersibles, jackups and other drilling rigs. Our TODCO segment (formerly called the "Gulf of Mexico Shallow and Inland Water" business segment) consists of our interest in TODCO, which conducts jackup, drilling barge, land rig, submersible and other rig operations in the U.S. Gulf of Mexico and inland waters, Mexico, Trinidad and Venezuela. Our operations are aggregated into these two business segments based on the similarity of economic characteristics among the market sectors in which each operates. These characteristics include the services provided and the types of customers for which we provide these services. Although each of our business segments consists of various rig categories, the type of rig used to perform our drilling operations is dependent upon the needs and demands of our clients. As a result, operating decisions and allocation of assets and resources are determined by our customers.

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